AUDUSD is trying to rise but the mid-term trend remains bearish.
The Aussie is growing against the USD on Tuesday. The current quote for the instrument is 0.7271.
The Reserve Bank of Australia published its Monetary Policy Meeting Minutes today, which turned out to be very interesting and insightful. The key message was the announcement that the regulator wasn’t going to raise its interest rates until 2024. This information is very important for understanding what exactly the RBA is planning to do in the nearest future. Moreover, such specific news may reduce market volatility.
According to the RBA, the recent outbreak of the COVID-19 delta strain slowed down the economic recovery a little bit but didn’t abort it. The regulator is expecting the country’s economy to get back to standard numbers as the anti-coronavirus vaccination campaign is covering more and more areas in Australia to remove social restrictions.
The RBA remains steadfast in its commitment to support a friendly fiscal environment in the economy. The importance of available lending is not brought into question.
At the same time, the regulator admits that the economic recovery may be not as fast as it was thought before.
The strong USD doesn’t scare the Aussie enthusiasts because there are fundamental reasons for the Australian Dollar growth.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.